Maersk is expecting container volumes to fall up to 25% this quarter and plans to cancel dozens of sailings as the demands in consumer and industrial markets continue to drop due to the coronavirus pandemic lockdowns. Despite many countries starting to take steps towards reopening their economies, Maersk is not expecting a meaningful recovery until the end of the year. Shipping executives expect the world’s top 10 carriers to end the year deeply in the red and industry analysts have said that could trigger some failures as carriers with strong cash holdings and access to credit markets outlast weaker operators.
